The market in which the currencies of different countries are exchanged is called the

Nick is delighted to see that the price of his favorite food, black olives, has fallen. Which of the following could be responsible?

a. an increase in the demand for black olives b. a decrease in the supply of black olives c. a simultaneous increase in demand and decrease in supply of black olives d. a simultaneous decrease in demand and increase in supply of black olives

If input cost rises significantly when production is increased, a firm's price elasticity of supply will tend to be low

Indicate whether the statement is true or false